Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: GS prices $801,000 contingent coupon autocallables linked to four stocks
By Angela McDaniels
Tacoma, Wash., April 27 – GS Finance Corp. priced $801,000 of autocallable contingent coupon equity-linked notes due June 9, 2025 linked to the common stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 19.25% per year if each stock closes at or above its coupon threshold price, 70% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the least-performing stock finishes below its downside threshold price, 70% of its initial share price, in which case investors will be exposed to the decline of the least-performing stock.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp.
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| Amount: | $801,000
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| Maturity: | June 9, 2025
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| Coupon: | 19.25% per year, payable quarterly if each stock closes at or above coupon threshold price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below downside threshold price, in which case exposure to decline of least-performing stock
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| Call: | Automatically at par if each stock closes at or above initial share price on any quarterly observation date
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| Initial share prices: | $148.84 for Apple, $2,404.19 for Amazon, $2,280.78 for Alphabet and $271.87 for Microsoft
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| Coupon threshold prices: | 70% of initial share prices
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| Downside threshold prices: | 70% of initial share prices
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| Pricing date: | May 31, 2022
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| Settlement date: | June 3, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057M4H9
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